Stanford GSB Employment Report Reveals Record Salaries & Employers
For the fourth year in a row, Stanford GSB MBA graduates earned record high salaries with the mean base salary reaching $145,559. According to the 2018 Employment Report, this broke last year’s record compensation. On top of that, this year Stanford GSB grads also received jobs from a record 421 organizations for both summer internships and full-time positions. This demonstrated the broad appeal and diversity of Stanford MBAs.
Tech and Private Equity Interest Jump
Other highlights from this year’s employment report included an increase in interest in the technology industry. In fact, in 2018 it was the most popular industry, garnering 33 percent of alumni—an 8 percent jump from last year. Other top industries included finance, which garnered 31 percent of graduates with private equity being the most sought after area with 13 percent of graduates.
Since three years ago, the percentage of women going into private equity and venture capital has doubled. As for tech, this year a record 40 percent of women chose to work in the tech industry. This shift has many explanations, not the least of which is the coursework taught at Stanford. For Ashley Brasier (MBA ’18), all it took was the class “Entrepreneurship & Venture Capital from the Perspective of Women” to change her course from consumer tech to VC.
“This class showed me that there are several different paths into VC, and empowered me to pursue VC opportunities,” Brasier says.
This year, the number of non-U.S. work-authorized students who accepted jobs in the U.S. stayed flat at 74 percent. More likely than not, this is a result of global trends that are causing extra challenges for students seeking to move locations. This was also reflected in the $12,000 median salary gap between U.S. work-authorized and non-U.S. work-authorized graduates. However, “when controlled for industry and job location, for example in emerging markets, the salary gap diminishes and in some cases disappears,” says Yossi Feinberg, the Senior Associate Dean for Academic Affairs.
Higher Salaries and Steady Job Offers
This year, MBA graduates received the highest salaries ever. The median and average base compensation ranged from $142,000 to $145,559 respectively—$2,000 and $1,000 over last year’s record. Signing bonuses also increased this year by $1,600 to a record $31,146, with an unchanged median at $25,000.
Salaries also increased when it came to cash performance bonuses. This year, 72 percent of the class said they expected a bonus over last year’s 66 percent with average expected bonuses of $64,527. As for stock compensation, 39 percent of the class—nearly two out of every five students—reported stock compensation of some kind.
“This year, 72 percent of the class said they expected a bonus over last year’s 66 percent with average expected bonuses of $64,527.”
And when it came to job offers, numbers remained unchanged. For the Class of 2018, 88 percent of the class accepted offers 90 days after graduates with 95 percent receiving offers. As for where students received these offers, a record 421 organizations hired Stanford graduates this year.
“Our leading employers span a wide variety of industries—consulting, finance, technology, consumer products, healthcare, and nonprofits—but what they have in common are work environments that offer the ability to make an impact, optimize on career development, and provide diverse challenges and responsibilities,” says Carly Janson, the Action Assistant Dean and Director of the Career Management Center.
“In turn, our graduates chose opportunities they felt passionate about, and opportunities to make the world a better place.”
This article has been edited and republished with permissions from its original source, Clear Admit.
New MBA Jobs at Five Tech Giants
As the line between business and information technology industries continues to blur, more and more professionals are looking to business schools and MBA programs to get them into the tech industry. Here’s a rundown of some New MBA jobs at five different tech giants: Continue reading…
How Can You Score a Job at Salesforce with an MBA?
Salesforce, one of the country’s highest valued cloud computing companies, is actively looking for promising MBA graduates, offering diverse opportunities in tech, business, and sales. Since it’s founding in 1999, Salesforce has been growing wildly, becoming the first enterprise cloud company tor each $10 billion in revenue as of August 2017. And Salesforce isn’t just remarkable for its product’s success—the company was also rated as the “#1 Best Company to Work For” by Fortune.
The Salesforce culture is centered around the idea of “Ohana” (Hawaiian for “family”), and earned its place at the top of the list by offering incredible benefits to its employees—both monetary and mentally. It’s understandable why MBA’s would want a job at Salesforce Ohana, with their focus on helping strong performers find new challenges and opportunities for growth.
What Does Salesforce Look for in New Hires?
Salesforce makes recruiting a priority at every level through their Futureforce University recruitment program. Salesforce offers new hires the same incredible opportunities available to all of their employees—seven days of paid time for volunteering, networking opportunities, and access to the Executive Lunch & Learn and Speaker Series that puts interns and new hires in direct contact with Salesforce leadership.
Because of Salesforce’s focus on having their employees give back to their communities, they seek out new hires who have made a demonstrated impact within their past efforts, whether at school or professionally. In 2015, Salesforce’s senior vice president of global recruiting, Ana Recio, commented on the different ways applicants could make themselves stand out.
“What did you do to differentiate your job from others?'” she said. “What was your absolute impact, your legacy? We always look for people who truly were kind of thought leaders and change agents.”
How to Get Your Foot in the Door?
MBA graduates and current students can apply directly for open roles. Current students will most directly benefit from the company’s MBA internship: a 12-week program that students can pursue during the summer in between years one and two of their program. Each summer, MBA interns are hired in the fields of product marketing, product management, CSG business analyst, corporate development, and data analytics. If recruiters think there might be a good fit, applicants will likely be given a 30-60 minute phone screening, followed by an interview with a hiring manager. Before offering the position, MBAs will likely have to partake in a panel interview/case study, presenting their professional and academic accomplishments.
Salesforce also recruits recent graduates (those who graduated in the last 12 months) in the fields of tech, sales, and business. The precise roles and interview process for each varies depending on the field.
How Well Does a Job at Salesforce Pay?
The majority of hires at Salesforce, both full-time and interns, are for tech-centric positions. However, the company does offer supreme compensation for those with business degree backgrounds—especially those with an MBA.
According to Payscale data, MBA graduates wit a job at Salesforce earn between $85,000 and $160,000 USD annually.
It’s no secret that one of the reasons Salesforce tops the Glassdoor list of “Best Places to Work” is the compensation. Although, as with any position, salary will vary depending on a number of factors, Glassdoor’s compensation of full-time employees shows a lower-end salary range of $60,000-80,000 annually (for account executives and sales engineers) and upwards of $141,000 for senior engineer positions.
What Do Current and Former Salesforce Interns Think?
Danielle, who interned with Salesforce as a product marketing MBA intern, commented on her work experience and Salesforce’s company culture in this video. “Not only am I working on independent projects as part of the internship, but I’m also shadowing people in my team and really seeing what a true day in the life is for a project manager within the app cloud,” Danielle said. “Other internships are very focused on their projects and feel very siloed but here at Salesforce I’m really able to be integrated with the team as a whole.”
Eamon, a software engineer who began at Salesforce as a recent graduate, also commented on his experience. “As a new grad what’s interesting is there really is no pathway you’re supposed to follow, it’s what you make of it,” he said. “It’s the people you go out of your way to meet, the experiences you make, the projects you decide to take on.”
2018 Trends: How Much Can You Get Out of a Boston MBA?
Boston, the largest city in New England, is often considered the academic, economic, and cultural center of the Northeastern United States. Beantown is also considered one of top college towns in the country thanks to its numerous esteem colleges and universities. Lots of that talent sticks too: Forbes ranks the city as one of the best places for business and careers. Continue reading…
London Business School Prof Warns of the Future for Tech Giants
Last year, tech giants such as Google, Amazon, and Facebook already started facing new regulations and pushback from government officials. For example, last November, the State of Missouri launched an investigation into Google to see if it had violated antitrust and consumer protection laws. Julian Birkinshaw, a professor of strategy and entrepreneurship at London Business School, thinks that’s only the beginning.
“The tech giants are huge beasts, and there is a growing sense of unease about their power,” Birkinshaw said in a news article on the school website. He went on to talk about various fines already levied against big tech firms such as Google, which was ordered to pay €2.4 billion last June for abusing its internet search monopoly to promote its online shopping service. Facebook, meanwhile, got slapped with a €110-million fine by the European Union for providing misleading information about its takeover of WhatsApp.
According to Birkinshaw, these examples are just the tip of the iceberg. “Over the coming year we can expect to see more of this aggressively activist approach in tackling companies with dominant positions,” he wrote.
What’s driving this more aggressive regulation? Birkinshaw believes it has to do with the old supplier-manufacturer-distributor-consumer model, which doesn’t fit these new tech giants. Antitrust legislation wasn’t designed to cope with tech companies whose profitability increases rapidly alongside its growth.
For example, Facebook has more than two billion active users, Google handles 42 percent of all U.S. digital advertising, and Amazon has all but eliminated would-be competitors. Birkinshaw sees no signs of these companies slowing down.
“The more people who join Facebook or use Google, the more data the company can mine. The economies of scale become ever greater,” Birkinshaw wrote. “So we need to rethink the way we monitor the power of the huge companies now dominating the business landscape.”
This article has been edited and republished with permissions from our sister site, Clear Admit.
Tech Grads Surge in New Northwestern Kellogg Employment Report
The Kellogg School of Management released new employment data and statistics from the Class of 2017. According to the school, 94 percent of Kellogg’s full-time MBA Class of 2017 received an offer within three months of graduation.
“Kellogg leaders take a multidisciplinary approach to solving complex business challenges,” said Matt Merrick, Associate Dean of MBA Operations. “The versatile skills they hone at Kellogg enable them to make an immediate impact across all types of organizations.”
MBAs were hired by a wide variety of companies across all disciplines and industries, shapes and sizes. Some of the top companies hiring Kellogg students include McKinsey & Company, The Boston Consulting Group, Amazon, Bain & Company, and Microsoft.
Employment data shows that the most popular industries were consulting (33 percent), technology (25 percent), finance (13 percent) and CPG (12 percent). The Kellogg Career Management Center helped students establish relationships with more than 50 technology companies in order to help secure these employment opportunities. Overall, the Career Management Center works with employers to create custom recruiting strategies, forging deep relationships with employers of all sizes, from all industries and regions.
According to our sister site Clear Admit, the 25 percent of Kellogg grads that landed jobs in the technology industry was a school record.
Jeanette Brown writes:
“Amazon hired 32 Kellogg grads, making it the third largest recruiter in 2017, behind only McKinsey and Boston Consulting Group (BCG). But Amazon was far from the only tech firm to hire at the school. ‘It’s not only the big employers like Amazon, Apple, Google—but the small companies as well, the ones that hire just one to two MBAs,’ explains Liza Kirkpatrick, Senior Director of the full-time MBA program at Kellogg’s Career Management Center. ‘We had over 50 unique tech employers that hired our students this past year, which demonstrates that we really have that depth.’ Kirkpatrick further noted that the types of jobs for which tech firms are hiring Kellogg grads is widely varied, including product management, sales, marketing, business operations, supply chain, product development, and others.”
Kirkpatrick notes that the surge in tech jobs stems from a concerted effort from the business school, which was also reflected in the number of technology industry internships for the Class of 2018.
“‘We started developing relationships in the tech space many years ago,’ acknowledges Kirkpatrick. ‘It has taken a while for firms to recognize that when an MBA comes on board, it really adds value.’ But they certainly have, which can also be seen reflected in the number of tech firms that now take on summer interns. ‘They have really organized themselves to bring on an MBA class as interns as a result,’ Kirkpatrick adds. The most recent employment report reveals that 26 percent of the Class of 2018 interned at technology firms.”
In a press release from the school, Jodi Washington, a Program Manager for the Networking and Security Transformation team, said, “Kellogg’s curriculum builds leaders who are strong analytical thinkers and are confident collaborating across organizations. The Kellogg graduates we hire jump in on day one, but also continue to mature at Cisco.”
2017 statistics/photo courtesy of Northwestern Kellogg.
The statistics show that the number of Kellogg MBAs to accept job offers on the West Coast has also increased (31.4 percent) from last year, a direct correlation to uptick in tech hires. Meanwhile, 30 percent of 2017 MBAs stayed in the Midwest and 33 percent accepted jobs on the East Coast.
You can read more on Kellogg’s latest employment stats and the Clear Admit interview with Kellogg Senior Director of Career Management Liza Kirkpatrick here.
